How to stop foreclosure on your house.

Foreclosures are up. Way up. If you fall behind on your mortgage you may get caught up with this process. If you do not stop it you could lose your house.

You might say that the mortage on your house is higher than its value (this is happening more frequently), so why worry? You have no equity to lose.

The problem is that if your house is foreclosed and sold at auction for less than the mortgage you will still owe the difference between the sales price and the mortgage.

The way out of this is Chapter 13 Bankruptcy. Once you file for Chapter 13, any foreclosure proceeding is frozen.

Once that is done, you and the court will work out a payment plan for all back mortgage payments due, and all other debts you may owe. In most cases, you are required to pay only a small percentage of what you owe, and you pay it over time.

While it is technically possible for you to file bankrupcty on your own, I think that is crazy. Get a lawyer. You will save many times what you pay them. And make sure you get a lawyer who is expert on bankruptcy. Many lawyers do only bankruptcy work.